CARMEL, Ind. -

KAR Auction Services announced Wednesday morning that chief executive officer Jim Hallett has been named chairman of the board of directors.

Making the announcement was Ryan Birtwell, who is the chair of the Nominating and Corporate Governance Committee at KAR.

“Jim was a natural fit for this role, given his extensive industry experience and professional insights,” said Birtwell. “This experience balances nicely with our new, independent board members and their diverse backgrounds and talents. Jim’s leadership skills will foster strong collaboration and decisive action for the company.”

Hallett’s time with the KAR family dates back to 1993 when he was named president of ADESA Canada, becoming president and CEO of ADESA three years later.

Hallett served as president of Columbus Fair Auto Auction from 2005 to 2007 before coming back to ADESA as president and CEO in April 2007.  He has been CEO of KAR since September 2009.

“I am incredibly honored to lead the KAR group of companies and our team of talented and dedicated people,” said Hallett. “I look forward to continuing our successful history of innovative growth and am energized by this new opportunity.”